On August 1, 2023, Citadel Advisors LLC, a leading global financial institution, made a significant addition to its portfolio by acquiring 3,292,367 shares of Expensify Inc. This article provides an in-depth analysis of this transaction, the profiles of both Citadel Advisors LLC and Expensify Inc, and the potential implications for value investors.
Details of the Transaction
The transaction took place on August 1, 2023, with Citadel Advisors LLC adding 3,292,367 shares of Expensify Inc to its portfolio at a trade price of $6.41 per share. Following this acquisition, Citadel Advisors LLC now holds a total of 3,314,000 shares in Expensify Inc, representing 4.00% of the guru's holdings in the traded stock. However, the current ratio of the traded stock in the guru's portfolio is not applicable.
Profile of Citadel Advisors LLC
Founded in 1990, Citadel Advisors LLC has grown from a startup with $4.6 million in capital to a global financial institution with over $451.36 billion in equity. The firm employs a diverse set of strategies, including event-driven, credit arbitrage, and structured credit approaches, to invest in a variety of public equity, fixed income, and alternative markets on a global scale. Citadel Advisors LLC's top holdings include Adobe Inc(ADBE, Financial), Meta Platforms Inc(META, Financial), NVIDIA Corp(NVDA, Financial), INVESCO QQQ Trust(QQQ, Financial), and Boston Scientific Corp(BSX, Financial). The firm's top sectors are Healthcare and Technology.
Profile of Expensify Inc
Expensify Inc, listed under the symbol EXFY, is a cloud-based expense management software platform that simplifies money management for businesses of all sizes. Since its IPO on November 10, 2021, the company's stock has experienced a significant decline of 88.61%. As of August 12, 2023, Expensify Inc has a market cap of $373.645 million and a current stock price of $4.51.
Analysis of Expensify Inc's Financials
Expensify Inc's financial strength is rated 5/10 on the Financial Strength scale. The company's GF Score is 18/100, indicating poor future performance potential. Its Profitability Rank is 1/10, and its Growth Rank is not applicable due to insufficient data. The company's Piotroski F-Score is 6, and its Altman Z score is 2.38, indicating potential financial distress.
Comparison with the Largest Guru Holder of Expensify Inc
The largest guru holder of Expensify Inc is Baron Funds. A comparison of Citadel Advisors LLC's and Baron Funds' holdings in Expensify Inc will be provided in a future update.
Conclusion
In conclusion, Citadel Advisors LLC's recent acquisition of Expensify Inc shares represents a significant addition to its portfolio. However, given Expensify Inc's poor financial performance and potential financial distress, value investors should exercise caution. As always, it is crucial to conduct thorough research and consider various factors before making investment decisions.
All data and rankings are accurate as of August 12, 2023.
